EUR/USD: Daily Recommendations on major
|EUR/USD - 1.1884
Euro's rally in post-FOMC Wed to as high as 1.1892 yesterday confirms recent decline from 1.2266 (May) has made a low in mid-Jul at 1.1753 and as long as 1.1830 (last week's high, now sup) holds, further gain is envisaged after consolidation, however, near term loss of upward momentum would liimit upside to 1.1940/44 today.
Only a daily close below 1.1830 indicates temporary top is made and may risk stronger retracement to 1.1800/05.
On the data front, euro aea countries will release a slew of eco. data, pls refer to our EI page for details and pay attention to CPI and GDP data.
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